The Evil Axis of Finance (ePub)

Why, despite the existence of raft of potential international investment outlets, is a major share of global wealth and savings mpelled toward a United States (US) Wall Street centered casino ? Why has an increasingly gapping chasm crystallized between ever bloating global financial activities and the "real" world economy of production and trade? How is it that wealthy governments'injecting trillions of dollars into stumbling financial sectors across the globe is failing to create new decent jobs? The present volume clearly answers these questions and more as it connects the dots linking the 2008 meltdown and over a decade of dress rehearsals for it to a rigged global financial game that cemented US international dominance under conditions where the US simultaneously attained the status of world's principal debtor economy. It traces out the complicity of Japan in the game beholden as it was to US anti-communist largesse for its meteoric post-war rise. It examines how China, the former communist Cold War nemesis, paradoxically became the next major underwriter of US debt and exporter of global deflation as is sets low wage rates for the world. The present volume clearly answers these questions and more as it connects the dots linking the 2008 meltdown and over a decade of dress rehearsals for it to a rigged global financial game that cemented US international dominance under conditions where the US simultaneously attained the status of world's principal debtor economy. It traces out the complicity of Japan in the game beholden as it was to US anti-communist largesse for its meteoric post-war rise. It examines how China, the former communist Cold War nemesis, paradoxically became the next major underwriter of US debt and exporter of global deflation as is sets low wage rates for the world.